The subject property is located on Route 24 (John J. Williams Highway), which is a local artery connecting Route 1 (the Rehoboth Beach area) to the Town of Millsboro. This two-lane road has a significant volume of local traffic into the surrounding subdivisions in Long Neck. This asset is positioned in the center of a developing retail hub as it is equidistant to Millsboro and the Rehoboth area, and serves residents in a two to three mile trade radius that do not want to drive to Rehoboth, Lewes or the town of Millsboro to shop. There is exponential residential growth in the market. Immediately diagonal to the property is a new residential subdivision. The shopping center has shared access with a new apartment complex, as well as two subdivisions of single family homes bordering the other boundaries of the shopping center. Less than one-half mile south of the subject is a Harris Teeter anchored shopping center with Walgreens (operating as Happy Harry's) on the outparcel. As an indication of demand in the market, the Harris Teeter center is building additional inline space. To the north, Food Lion, RIte Aid and Movie Gallery occupy an older shopping center. All of the competing retail centers in the market are fully occupied. Millsboro is located in southern Delaware, minutes from the coastal beach resorts areas of Ocean City, Maryland and Rehoboth Beach, Delaware. Over the last decade, this region has boomed with housing growth as the area residents are moving here for year-round living, not just vacationing. Families and retirees are attracted to the region for its pace of life and affordability. Growth in the region has precipitated from the coastline inland. There are numerous new residential subdivisions in the immediate one and three mile radius, and many additional subdivisions are planned, almost unfazed by the housing slow-down. While the area has a country-like feel, many national retailers have entered the Route 1 Corridor.

Bayshore Plaza is a 39,744-square foot shadow anchored shopping center immediately neighboring a Super Giant store in the booming coastal community of Long Neck (Millsboro), Delaware. This offering includes two newly-constructed retail strip centers, 100 percent occupied by a mix of local and national retailers, as well as two developed outparcels occupied by WSFS Bank and a local car wash operator. As a testament to the strength of this growing coastal market, the subject asset was 100 percent leased before completion of construction. National and well-established local retailers including Sleepy